>> President Donald Trump once again setting his sights on the drug industry, Tuesday, but this time, with a less combative tone. Holding a meeting with leaders of major drug companies, Trump vowed to speed up the process it takes for new drugs to get to market, which he claims will open up competition, and result in lower drug prices.
He also added this twist to his message.>> We're going to be ending global free loading, foreign price controls, reduce the resources of American drug companies to finance drug and R and D innovation. I think you people know that very well, it's very unfair to this country. So what I want is we have to get lower prices, we have to get even better innovation, and I want you to move your companies back to the United States, and I want you to manufacture in the United States.
We're gonna be lowering taxes bigly, we're gonna be getting rid of regulations that are unnecessary.>> The last time he brought up drug prices, in a series of tweets, shares of drug companies tanked. But this time, the response was different, says Reuters health and pharmaceutical correspondent, Caroline Humer.
>> Yeah, I mean, it seems like investors think this is sort of the beginning of some sort of daytime.>> Before this, we had tweets that were kind of lashing out, no one really knew what they meant. Here, we have an actual meeting where he sits down with them, he says, here are these priorities for me, the other guy says yes, yes, yes, so it seems like a calming of that situation.
>> With Trump backing off, investors piled into drug and biotech stocks, Tuesday, which rallied as the rest of the market dropped for the fourth day in a row.